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Forex price action strategy ebook

forex price action strategy ebook

the market needs to be accurate. My Favorite Chapters If you dont want to read the entire book (I highly recommend that you do chapters two, three and four are must-reads in my opinion. In fact, my Forex trading strategy is so simple that you can trade it from your smartphone. In essence, the market is dynamic and constantly changing, so you need a trading strategy that gives you the ability to trade in this type of environment. While sellers are not in control, neither are buyers. If my stop is 100 pips, the minimum size of my target is 150 pips (1.5 x 100). The Story of Price Every single candle on your chart is telling you a story. It is vital because it allows you to answer one of the most important questions in trading Who is in control of price?

forex price action strategy ebook

I believe this notion is true regardless of the market youre trading. Professional traders call this trading with confluence. It also isnt visible. This is a strong resistance (sell) area. Theres no better way to learn how to become successful than by studying those who have already done. Low is the lowest point that price reached during the day. But first, we need to define some rules for support and resistance areas. And if that didnt give it away, this Forex trading book tackles the diverse and often overlooked topic of psychological management. Ive had many months where my win rate fell below 50, yet I still came out ahead because of a positively skewed risk to reward ratio. See our privacy policy. You cant skip straight to advanced candlestick analysis without knowing some basics first.